26 March 2018

Singha Estate Envisions 2020 Towards Premier Property Development & Investment Holding Company Achieving Target 20,000 MB through “4S” strategy

Singha Estate reinforces its vision of elevating status to “Premier Property Development and Investment Holding Company” and achieving 2020 target through 4S business strategy; Synergizing positive outcome from focusing on investing in high potential business (Smart M&A), Driving corporate position becoming Premier Holding company through robust financial status and premium quality product offerings (Strategic Move), Building strong growth from balance diversified portfolio (Strong Growth), and committing to be a good corporate citizenship follow sustainable growth philosophy (Sustainable Development)

Mr. Naris Cheyklin, Chief Executive Officer, Singha Estate PLC, revealed that the strategic move will invigorate strong growth from diverse portfolio investments, leading to sustainable development and generating consolidated earnings of 20,000 million baht by the year 2020. According to CEO Naris, to attain the status of a premier property development & investment holding company, Singha Estate needs to press home its 4S strategies, comprising:

1. Smart M&A: This will focus on investing in assets of high return: highlighting fast growing prospects and implementing expansion and renovation. Singha Estate has also emphasized augmenting development in brand building, customer experience and promotion sustainability of environment, social and cultural heritage. This strategy has already resulted in an asset growth effect from 11,288 million baht in 2014 to 40,910 million baht in 2017. The upcoming investment has involved the outright acquisition of Outrigger Hotels Hawaii worth 11,073 million baht for six hotel and resort properties in four countries, consisting of Outrigger Fiji Resort, Castaway Island in Fiji, Outrigger Laguna Phuket Beach Resort, Outrigger Koh Samui Beach Resort, Outrigger Mauritius Beach Resort in Mauritius, and Outrigger Konotta Maldives Resort in the Maldives. Combined with a substantial investment in the visionary Crossroads project in the Maldives, the total asset growth effect will soon top 60,000 million baht to yield the expected returns in line with planned corporate goals.

2. Strategic Move: moving forward to be a holding company with strong financial performance and well balanced portfolio, to capture new opportunities and deliver sustainable growth Nirvana Development, which is majority owned by Singha Estate has already become a publicly listed company in the Stock Exchange of Thailand under the name of Nirvana Daii PLC. By 2019 the S Hotel and Resorts (SHR) company will become a public corporation with combined assets worth 20,000 million baht, and the Suntowers will become qualified and converted into a real estate investment trust (REIT) within 2020 and, combined, these moves will have completed the process of turning Singha Estate into a full-fledged holding company. Another core strategic business move is to reinforce company positioning as a real estate developer enhancing premium and sustainable quality of living through “Crafting Today Enriching Tomorrow” brand proposition and redefining new lifestyle standards through “Smart Design Smart Living” unique design concept and “Lasting Value” operational excellence. 2017 signature projects such as Santiburi The Residences, the mixed use Singha Complex, and Crossroads in the Maldives – the first ever integrated leisure and entertainment destination.

3. Strong Growth: Singha Estate is also set to rapidly and steadily grow its business resulting from its effective investment strategy of an optimum portfolio allocation and balance between Retail Office Towers and its Hotel businesses, which will yield recurring income streams - to be combined with Residential Sector non-recurring incomes on a 50:50 ratio basis. The company has thus been able to create a swift, sturdy and profitable portfolio and a robust recurring revenue base, which enables it to grow under any economic circumstances. At present, the company backlog worth more than 14,000 million baht and will begin to recognize as revenue by the 4th quarter of this year from two projects: The ESSE Asoke and Banyan Tree Residence Riverside Bangkok (Nirvana Daii PLC) In consequence, the total revenue of company will reach 10,000 million baht in 2020. Combining the existing M&A hotel portfolio and the Crossroads hospitality project, the recurring income from hospitality and commercial projected to reach 10,000 million baht by 2020, raising Singha Estate’s total revenue to 20,000 million baht in 2020 in line with corporate goal.

4. Sustainable Development: Focusing on stakeholders’ benefit and supported by a culture of management responsibility, Singha Estate has fully embraced SD initiatives and principles as the key foundation pillars of business developments based on
· Economic Growth: the company committed to enhance diversity, competitiveness, and prosperity of our investment both domestic and overseas
· Social; Enhancing “quality of life’ by increasing community green areas and promoting workforce well being and preserving local cultural heritage
· Environment: Building public awareness of the natural resource limitations and rehabilitation through incorporating “body of Knowledge” practice such as learning centre initiatives - to disseminate “waste and energy” conservation knowledge and practical guideline

“We have witnessed a continuous business growth of assets worth 11,288 million baht in 2014 rising to 40,910 million baht in 2017, while earnings have increased more than 15 fold from 370 million baht in 2014 to 5,858 million baht last year. By 2020, we confidence that Singha Estate revenue will top 20,000 million baht and asset value reach 60,000 million baht, as planned”, he added.

Meanwhile, Mr. Thiti Thongbenjamas, COO of the Crossroads Project, developed and managed by Singha Estate PLC, informed: “Phase One of our Crossroads project, the country’s first integrated leisure and recreation tourist destination in the Maldives, is worth 11,000 million baht. The development plan is to develop a tourist facilities destination on a chain of nine atolls stretching seven kilometers.”

“Comprising hotels and resorts, the hospitality portfolio will answer the needs of all aspects of tourist lifestyles and offer such cohesive facilities as luxurious yacht piers, luxury-class beach clubs, lifestyle stores, duty-free shops, first-class restaurants, and a Cultural Centre to publicize and connect the two cultures as well as to promote art and craft of the nation. In addition, we will develop a learning centre to conserve the diverse marine biodiversity and engaging eco-tourism philosophy” elaborated Mr. Thiti

For more information, please contact: Atiroj Chotpornsawat (Tae) PR Manager Tel. 02 050 5555 # 912, 089 118 9110 Email: Atiroj.c@singhaestate.co.th Napisa Iamchueun (Pao) Assistant PR Manager Tel. 02 050 5555 # 920, 095 414 1549 Email: Napisa.i@singhaestate.co.th

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